London-based Prudential is planning to establish a health insurance venture in India.
The company is currently partnering with ICICI Bank for life insurance and asset management.
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But the insurance firm might seek a new partner as the bank has a non-life venture, ICICI Lombard General Insurance.
India has five standalone health insurance companies – Aditya Birla, Care, Manipal Cigna, Niva Bupa, and Star Health.
Prudential’s CEO, Anil Wadhwani, said: “India is clearly an exciting market, with a large population… there is significant under-penetration.”
A company spokesperson declined to comment on market speculation.
